On October 7, 2008, After a controversial stay in West Bengal, Ratan Tata and his men shifted their Rs 1-lakh car Nano project to Sanand near Ahmedabad at an investment of Rs 2,000 crore (Rs 20 billion), declaring that efforts will be made to roll out the world's cheapest car from a make-shift plant to meet the deadline. Praising Modi for speedy allocation of about 1,100 acres (4.5 km2) of centrally located land, Ratan Tata said that the company had a great deal of urgency in having a new location and was driven by the reputation of the state. He successfully made a secret deal with Narendra Modi who agreed to give him a soft loan to the tune of approximately $10 billion to make the car in Gujarat.
The car was launched on March 23, 2009 amid much fanfare with advance bookings that preceded its launch by months.
The car was launched on March 23, 2009 amid much fanfare with advance bookings that preceded its launch by months.
PRAVESH YADAV
PGDM I sem
(BATCH 2009-11)
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